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La Française des Jeux : Revenue up 4% in Nine Months: Acquisition of ZEturf Completed at the End of September Acquisition of PLI to Be Completed in Early November



La Française des Jeux : Revenue up 4% in Nine Months: Acquisition of ZEturf Completed at the End of September Acquisition of PLI to Be Completed in Early November
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La Française des Jeux (FDJ), France’s leading gaming operator, announces its revenue for the nine months to end September 2023.

Stéphane Pallez, Chairwoman and CEO of FDJ Group, said: “Our growth remains solid, with strong players’ demand, even though it has been affected by the low number of Euromillions high jackpot draws. At the same time, the completion of the acquisition of ZEturf at the end of September and the forthcoming closing of Premier Lotteries Ireland acquisition in November illustrate our strategy of internationalisation and diversification. We are delighted that the teams of these two operators are joining FDJ and that these operations will contribute to the Group’s sustainable and profitable growth.”

  • Revenue to end September of €1,875 million, up 3.9% and 1.3% on a like-for-like basis

At the end of September, gross gaming revenue (GGR) stood at €4,808 million, stable compared with 2022. After €3,044 million in public levies, net gaming revenue (NGR)3 totalled €1,771 million, up 0.8% based on a 2.0% increase in stakes.

Including income from other activities of €103 million, up more than 10% on a like-for-like basis, Group revenue to end September 2023 came to €1,875 million, up 3.9%.

On a like-for-like basis, sales rose by 1.3%. It rose 4.6%, in line with the first half, excluding Euromillions, which was particularly affected by the low number of high jackpot draws, especially in the 3rd quarter, and excluding Amigo, which was relaunched at the beginning of June with a revised formula in accordance with the regulator’s decision.

In the 3rd quarter, revenue totalled €586 million, down 1% and 3% on a like-for-like basis.

  • By distribution channel and activity
    • By distribution channel

Stakes in points of sale increased 0.8% to €13,278 million, supported by sports betting and instant games, and despite Amigo and Euromillions impact.

Digital stakes are continuing to grow, driven by all businesses. They were up 10.6% to €2,011 million, a performance attributable in large part to the increase in the number of players. Excluding Euromillions, online lottery stakes rose by more than 12%. Online stakes account for more than 13% of total stakes.

  • Lottery

Lottery revenue totalled €1,407 million down 1.2%, based on a slight increase in stakes, but up 3% excluding Amigo and Euromillions.

Driven in particular by the success of launches and relaunches, such as Carré Or in January and Numéro Fétiche in May, instant games stakes rose by more than 4%.

The almost 6% drop in the stakes for draw games is attributable to the lower number of high jackpot Euromillions draws (19 at 2023 September-end compared to 32 at 2022 September-end), particularly noticeable in the third quarter, and the full impact of the new Amigo draw launched at the beginning of June and in line with the decision of the French National Gaming Authority.

Excluding Euromillions and Amigo, draw stakes are up 1% and lottery stakes more than 3% compared with 2022, an “exceptional” year for draw games, especially Euromillions with stakes up by almost +20% to the end of September 2022. Overall, the appeal of this game remains strong, with stakes up by almost +10% compared with 2019, following its relaunch in the first quarter of 2020.

The discrepancy between growth in stakes and growth in revenue is mainly due to Euromillions, which has a high rate of conversion of stakes into revenue.

  • Sports betting and online gaming open to competition

Revenue of sports betting and online gaming open to competition totalled €360 million, an increase of 9.3% in line with growth in stakes. The player payout ratio in the third quarter is very close to that at the end of June and that recorded at the end of September 2022.

Business growth, strong both at the point of sale and online, benefited from the continuing momentum of the FIFA World Cup at the end of 2022, despite a slightly less favourable football calendar in the 3rd quarter of 2023.

The acquisitions of ZEturf and Premier Lotteries Ireland (PLI) strengthen FDJ’s model

  • ZEturf completes FDJ’s online gaming offering, making it the 4th largest operator in the French sports betting and online gaming open to competition, with a market share of over 10%

ZEturf is the 2nd largest online horse betting operator in France, with a market share of around 20%. This acquisition enables the FDJ Group to become the 4th largest competitive online gaming operator in France (sports betting, horse betting and poker), with a market share of over 10%. Finalised at the end of September, this acquisition has been consolidated in FDJ’s accounts since 1 October.

In order to benefit fully from the potential of the merger with ZEturf and the synergies within its online business open to competition, and in accordance with the commitments made to the French Competition Authority, FDJ will adopt a new organisation for this business.

With 2022 revenue exceeding €50 million, ZEturf:

– Doubles the revenue of FDJ’s online gaming business open to competition;

– And will have an accretive effect on the sports betting and online gaming open to competition BU’s contribution margin from 2025.

  • PLI: First step in the international B2C lottery with strong prospects

The acquisition of Premier Lotteries Ireland, the Irish national lottery operator, is a major step in the deployment of the FDJ Group’s international strategy. On 3 October, the Irish lottery regulator gave the go-ahead for the deal, which is due to be finalised in early November, when PLI will be consolidated by FDJ.

In 2022, Premier Lotteries Ireland recorded gross gaming revenue (GGR) of €399 million and revenue of €140 million, with an EBITDA margin comparable to that of FDJ.

The strategic plan currently being drawn up jointly aims to accelerate PLI’s growth and increase its profitability, based on sharing best practice between the two operators in order to:

– Capitalise on FDJ’s experience to drive PLI’s instant games portfolio;

– Boost the player base for draw games;

– And continue to improve the digital experience for Irish players.

2023 Outlook

In Q4, the Group expects:

– In sports betting and online gaming open to competition, sales virtually unchanged, reflecting the continued momentum since the start of the year, with a high basis for comparison due to the FIFA World Cup at the end of 2022;

– And for the lottery, sales growth driven by non-Amigo draw games, with several events including the launch of the EuroDreams draw game, and by instant games.

For 2023 as a whole, FDJ is targeting revenue growth of around 5%, i.e. between 1.5% and 2% on a like-for-like basis, with a current EBITDA margin rate maintained at around 24% thanks to tight control of costs.

– At the end of July, the Group had announced 2023 revenue growth targets of over 5%, and over 3% on a like-for-like basis, with a current EBITDA margin maintained at around 24%.

The Group will also benefit from a high level of financial income, expected to almost double the figure recorded at the end of June, and reiterates its commitment to distribute between 80% and 90% of its consolidated net income.

The Group’s next financial communication

The Group will report its 2023 results on Thursday, 15 February 2024, before market opening.


In millions of euros

Q3 2023

Q3 2022






o/w online stakes








o/w lottery




o/w sports betting and online gaming open to competition




*-3.4% vs. Q3 2022 pro forma, including the acquisitions of Aleda and L’Addtion

Industry News



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Strive Gaming, the award-winning real money gaming platform provider for North America, is pleased to announce the appointment of Ian Smith as its new Chief Technology Officer (CTO). With an illustrious career spanning over two decades in the gaming industry, Smith brings a wealth of experience and expertise to Strive.

Smith’s impressive career includes significant leadership roles at William Hill, Rank Group, Flutter Entertainment (owners of FanDuel) and Game Play Network. He has been instrumental in the technical development and growth of these businesses, each at varying levels of maturity and size.

At Rank Group, one of the UK’s leading land-based casino and bingo businesses, Smith oversaw the company-wide expansion of their Player Account Management (PAM) and Omni-Channel experience, demonstrating his ability to drive innovation and scalability within complex environments. This experience is extremely valid to tribal and commercial casinos alike who are figuring out how to create an ideal connection between land based and digital experiences.

With additional experience across Class III and Class II gaming, and a deep understanding of US regulatory and technical complexities, Smith brings a unique perspective to Strive Gaming. Known for his hands-on approach to technical leadership, Smith is committed to driving innovation and excellence within the organization.

“I’m thrilled to join the talented team at Strive Gaming,” said Smith. “Having worked with their PAM product from a customer perspective, I have firsthand experience of its quality and potential. I am confident that together, we can further evolve the company and achieve our vision of becoming the number one PAM provider in North America.”

Smith’s appointment underscores Strive Gaming’s commitment to fostering innovation and delivering cutting-edge solutions to its clients. His vast experience and proven track record make him an invaluable addition to the leadership team.

“We are delighted to welcome Ian Smith to Strive Gaming as our new CTO,” said Max Meltzer, CEO of Strive Gaming. “Ian has rare characteristics; exceptional hands-on skill, experience and yet a sense of calm, humility and above all a desire to help talent around him flourish. This coupled with his extensive industry experience in the gaming industry make him the right person to lead our technical initiatives and helping the business achieve its goals”


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Star Sports sponsors new trainer Brian Toomey’s yard



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Former jockey who was pronounced dead for six seconds after a fall in 2013 has embarked on a new training career with some high-profile owners 

Star Sports is the new sponsor of Brian Toomey’s yard in Buckinghamshire.

The 34-year-old, who was forced to retire as a jockey after a horrific fall at Perth in 2013 which almost claimed his life, has embarked on his first full season as a trainer, based at Bowstridge Farm in Chalfont St Giles.

After being granted his trainer’s licence in October, he has already secured some high-profile owners, including Amo Racing, Clipper Logistics, Jimmy Fyffe and Jeff Smith. Harry Redknapp provided him with his first winner when Wake Up Harry won at Kempton on 20th December.

Toomey joins leading jockey Harry Skelton and recently retired legendary rider Davy Russell in Star Sports’ stable of racing ambassadors. He will provide regular updates on the yard’s runners, his views on the biggest races and meetings during the Flat season, and video content looking back at his career as a jockey, his recovery from the fall and life as a new trainer.

“Becoming a trainer has been a dream for a long time,” said Toomey. “My story is an unusual one and I know how lucky I am to be here.

“I’m hugely grateful to all the owners who have supported me at such an early stage of my career, my landlord at Bowstridge Farm as it’s such a brilliant place to train and now to my new sponsors, Star Sports.

“I’m looking forward to telling my story as a new trainer and updating Star Sports’ customers on our runners, as well as my views on the big races and issues in the industry.”

Luke Tarr, Head of PR at Star Sports, said: “Brian’s story is truly inspirational. To achieve what he has, both in his recovery from such a serious head injury and in his determined pursuit of a trainer’s licence, shows exactly what he is made of, and we are delighted to sponsor the yard.

“He has already attracted some massive owners and we’re excited to produce some top-quality content with Brian at the beginning of what we’re sure will be a very successful training career.”



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 Inspired Entertainment, Inc. (“Inspired” or the “Company”) (NASDAQ: INSE) a leading B2B provider of gaming content, systems, and solutions is thrilled to announce its latest slot game, Spin 2 Riches™, now available the UK B3/LBO market. Offering players an unparalleled gaming experience filled with mystery symbols and Fortune Spins. Spin 2 Riches invites players to embark on a thrilling adventure where every spin brings the promise of untold riches.

In Spin 2 Riches, players can activate the Mystery symbol by playing at the max stake of £2. Watch in anticipation as the Mystery symbol appears, revealing a random symbol that could pave the way for even more significant wins. But the excitement doesn’t end there – prepare to be captivated by Fortune Spins. Land three Fortune Spin symbols on the centre win line to unlock Fortune Spins across four-reel sets, offering an alternative to the base game and presenting players with two thrilling options: 1 in 10 or 1 in 20 chances to win big.

Spin 2 Riches is now available in retail, ready to captive players with its immersive gameplay and thrilling awards.

Richard Terry, UK Market Product director said: “Spin 2 Riches is set to be a great addition to the ever-expanding B3 top Inspired titles. With its vibrant theme, exciting Mystery symbol mechanic and the addition of Inspired’s phenomenal resonantly branded Fortune Spins™, players are sure to enjoy an entertaining experience

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